On Monday morning, the U.S. dollar declined against the Vietnamese dong, continuing its downward trend against most significant international currencies.
At Vietcombank, the U.S. dollar was traded at VND26,170, marking a decrease of 0.04% compared to the previous weekend rate. On the unofficial market, the dollar increased by 0.15%, trading at VND26,530.
The State Bank of Vietnam lowered its reference rate by 0.05% to VND24,944.
Worldwide, the dollar continued to lose value on Monday due to speculations that several Asian nations might be ready to initiate currency revaluations aimed at securing trade advantages from the United States.
Reuters
reported.
The euro increased by 0.3%, reaching $1.1333, moving further from last week’s low of $1.1266. Meanwhile, the dollar index fell by 0.2% to stand at 99.717. Additionally, the dollar weakened by 0.4% against the yen, trading at 144.21, distancing itself from Friday’s peak near 145.91.
The Chinese yuan reached its peak level in nearly half a year at 7.1980 against the U.S. dollar as speculators bet that Beijing could allow its currency to appreciate as part of ongoing trade discussions between China and the United States, despite the talks appearing somewhat remote.
While the Chinese Commerce Ministry has indicated Beijing was evaluating an offer from Washington to hold talks over Trump’s 145% tariffs, the two sides still seem far apart.
The Fed meets on Wednesday and is widely expected to leave rates steady following a solid March payrolls report.
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